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"Efforts should be made to intensify research on working out policies aiming for boosting growth of private businesses in aspects including reducing burdens from taxes and administrative fees, solving financing problems, improving environmental governance, as well as enhancing technological innovation ability," Liu said.

"Entrepreneurs will use acquired knowledge and skills to develop their businesses as well as share knowledge with other young entrepreneurs," Ma said.

"Davao is an important city for the Chinese people. Most people from Jinjiang establish a business here in Davao," Li said during his visit in February.

"Engaging and cooperating with China is both an opportunity and necessity," Michel was quoted by media as saying.

"Essentially, it depends on the growth of money supply (M2)," said Sheng Songcheng, a central bank adviser and a former director of the central bank's statistics department.